DNA Extraction Kit Genobank.io Is Now Seeking Funding on Republic

Incognito and encrypted DNA extraction kit brand, Genobank.io, has launched a crowdfunding campaign on Republic. The company successfully raised its minimum $100,000 funding target. Founded in 2014, Genobank.io’s kits notably enable users to establish ownership & control of their genomic data using a decentralized blockchain-based DNA wallet.

“Genobank is the first privacy-preserving personal DNA Kit that guarantees consumers complete ownership and control over their DNA. Our patent pending technology leverages blockchain and differential privacy to anonymize your DNA data while making it available for analysis. Your datasets are then stored inside an encrypted DNA Wallet that is only accessible to you. (private data capsule).”

The company’s platform stores, processes and shares Genomic and Healthcare sensitive data with confidence
(based on European GDPR regulation) along with the following:

  • On-Demand BioLinux platform for each user with pre-loaded Bio-libraries and Tools to save time
  • Virtually unhackable
  • Encrypted (double SHA256)
  • Decentralized
  • Blockchain-based Notary service for e-Consent & Metadata Decryption Keys
  • Managing transactions (transparency)
  • Peer to peer
  • IoT ready

The company also revealed:

“In order to ensure we create the most secure platform for our users, GenoBank has partnered with Oasis Labs, a blockchain platform providing top-notch privacy for user data. Oasis Labs has developed new ‘privacy preserving’ cloud that makes medical information more easily shared and accessible to researchers while preserving privacy using enclaves (SGX). “

Genobank.io then shared it has more than 400 users on the waiting list, including more than 20 members its team’s own families.

“We are currently in beta with RIO, a chain of health clinics that serve approximately 1000 patients a month. The beta started in Q4 of 2019 with 7 clinics. We developed a Co-Branded DNA kit (White-label) with the objective of helping patients receive a polygenic risk score related to Type 2 familial diabetes based our advisors Prof. Karol Estrada’s research.”

In regards to what the funds from the Republic campaign will be used for, Genobank.io added:

“With our investors support, we will invest enough efforts to reach our first 2000 to 3000 users by the end of 2020.”

The campaign is set to close mid-March or until the max amount of $1.07 million is raised.

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